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Originally published September 7, 2008 at 12:00 AM | Page modified September 8, 2008 at 8:05 AM

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Killinger ousted as WaMu's CEO, Journal reports

Kerry Killinger is being ousted as chief executive of Washington Mutual, The Wall Street Journal reported tonight. Killinger, 59, will be...

Kerry Killinger is being ousted as chief executive of Washington Mutual, The Wall Street Journal reported tonight.

Killinger, 59, will be leaving Seattle-based WaMu, the nation's largest thrift, after months of pressure from shareholders angry over the company's performance. The board in June had stripped Killinger of his chairman post at WaMu, which he held for 17 years, as it took a more hands-on role at the thrift. The company's stock has dropped 69 percent this year.

The Journal said Killinger is being succeeded by Alan Fishman, chairman of New York commercial mortgage broker Meridian Capital Group. Before joining Meridian in 2007, Fishman was president and chief operating officer of Philadelphia-based Sovereign Bank, the nation's second-largest thrift.

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